 | |
 Former headquarters inPeoria, Illinois | |
| CAT | |
| Company type | Public |
| Industry | |
| Predecessor |
|
| Founded | April 15, 1925; 100 years ago (1925-04-15) inCalifornia, U.S. |
| Founders | |
| Headquarters | Irving, Texas, U.S.[2] |
Area served | Worldwide |
Key people |
|
| Products | |
| Services | Services List
|
| Revenue |  US$64.8 billion (2024) |
 US$13.1 billion (2024) | |
| US$10.8 billion (2024) | |
| Total assets | US$87.8 billion (2024) |
| Total equity | US$19.5 billion (2024) |
Number of employees | 112,900 (2024) |
| Subsidiaries | Subsidiary List
|
| Website | caterpillar.com |
| Footnotes / references [3][4][5] | |
Caterpillar Inc. is an American construction, mining and other engineering equipment manufacturer.[6] The company is the world's largest manufacturer of construction equipment.[3][7][8]In 2018, Caterpillar was ranked number 73 on theFortune 500 list[9] and number 265 on the GlobalFortune 500 list.[10] Caterpillar stock is a component of theDow Jones Industrial Average.[11]
Caterpillar Inc. traces its origins to the 1925 merger of theHolt Manufacturing Company and theC. L. Best Tractor Company, creating a new entity, California-based Caterpillar Tractor Company.[12] In 1986, the company reorganized itself as a Delaware corporation under the current name, Caterpillar Inc. It announced in January 2017 that over the course of that year, it would relocate its headquarters from Peoria, Illinois, toDeerfield, Illinois, scrapping plans from 2015 of building an $800 million new headquarters complex in downtown Peoria.[13][14] Its headquarters are located inIrving, Texas, since 2022.[15][16]
The company also licenses and markets a line of clothing and workwear boots under its Cat / Caterpillar name.[17][18] Additionally, the company licensed theCat phone brand of toughened mobile phones andrugged smartphones from 2012 to 2024.[19] Caterpillar machinery and other company-branded products are recognizable by their trademark "Caterpillar Yellow"livery and the "CAT" logo.[20]
The company traces its roots to thesteam tractor machines manufactured by the Holt Manufacturing Company in 1890.[21] The steam tractors of the 1890s and early 1900s were extremely heavy, sometimes weighing 1,000 pounds (450 kg) perhorsepower, and often sank into the earth of theSan Joaquin Valley Delta farmland surroundingStockton, California.[22]Benjamin Holt attempted to fix the problem by increasing the size and width of the wheels up to 7.5 feet (2.3 m) tall and 6 feet (1.8 m) wide, producing a tractor 46 feet (14 m) wide, but this also made the tractors increasingly complex, expensive, and difficult to maintain.
Another solution considered was to lay a temporaryplank road ahead of the steam tractor, but this was time-consuming, expensive, and interfered with earthmoving. Holt thought of wrapping the planks around the wheels.[22] He replaced the wheels on a 40 horsepower (30 kW) Holt steamer, No. 77, with a set of wooden tracks bolted to chains. On Thanksgiving Day, November 24, 1904, he successfully tested the updated machine plowing the soggydelta land ofRoberts Island.[23]
Contemporaneously,Richard Hornsby & Sons in Grantham, Lincolnshire, England, developed a steel plate-tracked vehicle, which it patented in 1904.[24] This tractor was the first to be steered using differential braking of the tracks, eliminating the forward tiller and steering wheel. Several tractors were made and sold to operate in theYukon, one example of which was in operation until 1927, and remnants of it still exist. Hornsby found a limited market for their tractor, so they sold their patent to Holt five years after its development.[25]
Company photographer Charles Clements, looking at the machine's upside-down image through his camera lens, commented that the track rising and falling over the carrier rollers looked like acaterpillar,[26][27] and Holt seized on themetaphor. "Caterpillar it is. That's the name for it!"[23] Some sources, though, attribute this name to British soldiers who had witnessed trials of the Hornsby tractor in July 1907. Two years later, Holt sold his first steam-powered tractor crawlers for US$5,500, about US$185,000 in 2024. Each side featured a track frame measured 30 inches (760 mm) high by 42 inches (1,100 mm) wide and were 9 feet (2.7 m) long. The tracks were 3 inches (76 mm) by 4 inches (100 mm)redwood slats.[23]
Holt received the firstpatent for a practicalcontinuous track for use with a tractor on December 7, 1907, for his improved "Traction Engine" ("improvement in vehicles, and especially of the traction engine class; and included endless traveling platform supports upon which the engine is carried").[28]
On February 2, 1910,[27] Holt opened up a plant inEast Peoria, Illinois, led by his nephew Pliny Holt. There, Pliny met farm implement dealerMurray Baker, who knew of an empty factory that had been recently built to manufacture farm implements and steamtraction engines. Baker, who later became the first executive vice president of what became Caterpillar Tractor Company, wrote to Holt headquarters in Stockton and described the plant of the bankrupt Colean Manufacturing Co. of East Peoria.On October 25, 1909, Pliny Holt purchased the factory,[30] and immediately began operations with 12 employees.[31] Holt incorporated it as the Holt Caterpillar Company, although he did not trademark the name Caterpillar until August 2, 1910.[27]
The addition of a plant in theMidwest, despite the heftycapital needed to retool the plant, proved so profitable that only two years later, the company employed 625 people and was exporting tractors to Argentina, Canada, and Mexico.[32] Tractors were built in both Stockton and East Peoria.[33][34]
On January 31, 2017, the company announced plans to move their headquarters from Peoria toDeerfield, Illinois, by the end of 2017.[35] The new location at 500 Lake Cook Road is the former site of aFiatallis plant that manufactured wheel loaders for many years.
On June 14, 2022, the company announced plans to move its global headquarters from Deerfield, Illinois, toIrving, Texas, beginning later in the year, citing "the best strategic interest of the company."[36]
The firsttanks used in WWI were manufactured byWilliam Foster & Co., also in Lincolnshire, England, and were introduced to the battlefield in 1916. That company had collaborated with Hornsby in the development of the vehicles demonstrated to the British military in 1907, providing the paraffin (kerosene) engines.
Holt's track-type tractors played a support role in World War I. Even before the U.S. formally entered WWI, Holt had shipped 1,200 tractors to England, France, and Russia for agricultural purposes. These governments, however, sent the tractors directly to the battlefront, where the military put them to work hauling artillery and supplies.[37] WhenWorld War I broke out, the British War Office ordered a Holt tractor and put it through trials atAldershot. The War Office was suitably impressed and chose it as agun tractor.[38] Over the next four years, the Holt tractor became a majorartillery tractor, mainly used to haul medium guns such as the6-inch howitzer, the60-pounder, and later the9.2-inch howitzer.[39]
Holt tractors were also the inspiration for the development of the Britishtank, which profoundly altered ground warfare tactics.[23][40] MajorErnest Swinton, sent to France as an armywar correspondent, very soon saw the potential of a track-laying tractor.[41]: 116 Although the British later chose an English firm to build its first tanks, the Holt tractor became "one of the most important military vehicles of all time."[39]
Holt tractors had become well known duringWorld War I. Military contracts formed the major part of the company's production. When the war ended, Holt's planned expansion to meet the military's needs was abruptly terminated. The heavy-duty tractors needed by the military were unsuitable for farmers. The company's situation worsened when artillery tractors were returned from Europe, depressing prices for new equipment and Holt's unsold inventory of military tractors. The company struggled with the transition from wartime boom to peacetime bust. To keep the company afloat, they borrowed heavily.
C. L. Best Gas Tractor Company, formed by Clarence Leo Best in 1910, and Holt's primary competitor, had during the war received government support, enabling it to supply farmers with the smaller agricultural tractors they needed.[42][43] As a result, Best had gained a considerable market advantage over Holt by war's end. Best also assumed considerable debt to allow it to continue expansion, especially the production of its new Best Model 60 "Tracklayer".
Both companies were adversely impacted by the transition from a wartime to a peacetime economy, which contributed to a nationwidedepression, further inhibiting sales. On December 5, 1920, 71-year-old Benjamin Holt died after a month-long illness.[43][44]
The banks and bankers who held the company's large debt forced the Holt board of directors to accept their candidate, Thomas A. Baxter, to succeed Benjamin Holt. Baxter initially cut the large tractors from the company's product line and introduced smaller models focused on the agricultural market. When theFederal Aid Highway Act of 1921 funded a US$1 billion federal highway building program, Baxter began refocusing the company towards building road-construction equipment.[30]: 66 Both companies also faced fierce competition from theFordson company.
Between 1907 and 1918, Best and Holt had spent about US$1.5 million in legal fees fighting each other in a number ofcontractual,trademark, andpatent infringement lawsuits.[45] Harry H. Fair of the bond brokerage house of Pierce, Fair & Company of San Francisco had helped to finance C. L. Best's debt and Holt shareholders approached him about their company's financial difficulty. Fair recommended that the two companies should merge. In April and May 1925, the financially stronger C. L. Best merged with the market leader Holt Caterpillar to form the Caterpillar Tractor Co.[46]
The new company was headquartered in San Leandro until 1930, when under the terms of the merger, it was moved to Peoria.[31] Baxter had been removed as CEO earlier in 1925, and Clarence Leo Best assumed the title of CEO, and remained in that role until October 1951.[42]
The Caterpillar company consolidated its product lines, offering only five track-type tractors: the2 Ton,5 Ton, and10 Ton from the Holt Manufacturing Company's old product line and theCaterpillar 30 andCaterpillar 60 from the C. L. Best Tractor Co.'s former product line. The 10 Ton and 5 Ton models were discontinued in 1926. In 1928, the 2 Ton was discontinued. Sales the first year were US$13 million. By 1929, sales climbed to US$52.8 million, and Caterpillar continued to grow throughout theGreat Depression of the 1930s.
Caterpillar adopted thediesel engine to replace gasoline engines. DuringWorld War II, Caterpillar products found fame with theSeabees, construction battalions of theUnited States Navy, which builtairfields and other facilities in thePacific Theater of Operations. Caterpillar ranked 44th among United States corporations in the value of wartime military production contracts.[47] During the postwar construction boom, the company grew at a rapid pace, and launched its first venture outside the U.S. in 1950, marking the beginning of Caterpillar's development into amultinational corporation.
In 2018, Caterpillar was in the process of restructuring, closing a demonstration center in Panama and an engine-manufacturing facility in Illinois.[48]
Caterpillar built its first Russian facility in the town ofTosno, located nearSt. Petersburg, Russia. It was completed in 16 months, occupied in November 1999, and began fabricating machine components in 2000.[49] It had the first electrical substation built in theLeningrad Oblast since the Communist government was dissolved on December 26, 1991. The facility was built under harsh winter conditions, where the temperature was below −13 °F (−25 °C). The facility construction was managed by theLemminkäinen Group inHelsinki, Finland.[citation needed]
In May 2022, production at the Tosno plant was stopped. In November 2023, an agreement was reached on the sale of Caterpillar assets to the Russian company PSK - New Solutions, founded by people fromSberbank. Experts believe that the resumption of Caterpillar production is unlikely and the plant will be repurposed.[50]
The $125 million Caterpillar Suzhou,People's Republic of China facility, manufactures medium-wheel loaders and motor graders, primarily for the Asian market. The first machine was scheduled for production in March 2009. URS Ausino, in San Francisco, California, manages facility construction.[citation needed]
Caterpillar has manufactured inBrazil since 1960.[51] In 2010 the company announced plans to further expand production ofbackhoe and small wheel loaders with a new factory.[52]
Caterpillar has been manufacturing machines, engines, and generator sets in India, as well. Caterpillar has three facilities in India, which are in Tamil Nadu (Thiruvallur and Hosur) and Maharastra (Aurangabad).
In August 2025, Caterpillar expected up to $1.5B in tariff costs for 2025, while Deere has already cut profit forecasts as farm equipment sales slump and tariff pressures intensify.[53]
In addition to increasing sales of its core products, much of Caterpillar's growth has been through acquisitions, including:
| Company or asset acquired | Location | Date | Acquired from | Products | Notes |
|---|---|---|---|---|---|
| Trackson | Milwaukee, Wisconsin, United States | 1951[54] | Traxcavators (tracked loaders) and pipelayers | "Traxcavator" became a Cat brand | |
| Towmotor Corporation | Mentor, Ohio, United States | 1965[55] | Forklifts | In 1992 becameMitsubishi Caterpillar Forklifts, a joint venture 80% owned byMitsubishi Heavy Industries. Marketed under both the Towmotor and Caterpillar brands – the Caterpillar brand changed to Cat Lift Trucks[56] | |
| Solar Division and Turbomach Division | San Diego, California, United States | 1981[57] | International Harvester Company | Industrialgas turbines | BecameSolar Turbines Incorporated, a wholly owned subsidiary of Caterpillar Inc. |
| Balderson, Inc. | Wamego, Kansas, United States | 1990[58] | Balderson, Inc. | Work Tools for Construction and Mining Equipment, e.g. buckets, blades, forks | The name of Balderson, Inc., was changed to Caterpillar Work Tools, Inc. in 1998 and remains a wholly owned subsidiary of Caterpillar Inc. |
| Barber-Greene Co. Inc. | Minneapolis, Minnesota, United States | 1991[59] | Paving products | Renamed Caterpillar Paving Products | |
| Krupp MaK Maschinenbau GmbH | Kiel, Germany | 1997[60][61] | Fried. Krupp GmbH | Marine diesel engines | Renamed MaK Motoren GmbH, a wholly owned subsidiary of Caterpillar Inc. and will continue to use the MaK brand name. |
| Perkins Engines | Peterborough, United Kingdom | 1998[62] | LucasVarity | Small diesel engines | Produces both Cat- and Perkins-branded engines |
| Kato Engineering | Mankato, Minnesota, United States | 1998[63] | Rockwell Automation, Inc. | Large electrical generators | |
| F.G. Wilson | Larne, Northern Ireland | 1999[64][65] | Emerson Electric Company | Generators, produces both Cat- and Olympian-branded generators | Asset swap, Emerson acquired Kato Engineering from Caterpillar as part of transaction. |
| Earthmoving Equipment Division | Chennai, India | 2000[66] | Hindustan Motors Ltd. | Construction equipment | Renamed Caterpillar India, and the service and maintenance are provided by Birla Group's GMMCO Ltd. |
| Caterpillar Elphinstone | Burnie, Australia | 2000[67] | Elphinstone | Underground mining equipment | Acquired 50% interest in joint venture from partner Elphinstone, renamed Caterpillar Underground Mining |
| Sabre Engines Ltd. | Wimborne, United Kingdom | 2000[68] | Sabre Group Ltd. | Marine diesel engines | Renamed Caterpillar Marine Power UK, produces both Cat- and Perkins-Sabre-branded engines |
| Bitelli SpA | Minerbio, Italy | 2000[69] | Asphalt pavers, cold planers, compactors and other road maintenance products | Merged into Caterpillar Paving Products | |
| Wealdstone Engineering Ltd. | Rushden, United Kingdom | 2004[70] | Remanufacturer of gasoline and diesel engines | Organized under Caterpillar Remanufacturing Services | |
| Williams Technologies, Inc. | Summerville, South Carolina, United States | 2004[70] | Delco Remy International Inc. | Remanufacturer of automatic transmissions, torque converters and engines | Organized under Caterpillar Remanufacturing Services |
| Turbomach SA | Riazzino, Switzerland | 2004[71] | Babcock Borsig AG | Packager of industrial gas turbines and related systems | |
| Progress Rail | Albertville, Alabama, United States | 2006[72][73] | One Equity Partners | Supplier of railroad and transit system products and services, owner ofElectro-Motive Diesel | |
| Hindustan PowerPlus Ltd. | Mathagondapalli, Tamil Nadu, India | 2006[74][75] | Hindustan Motors | Engine components and heavy-duty diesel engines | Buyout of joint venture formed in 1988, renamed Caterpillar Power India Private Ltd., merged into Caterpillar India in 2008 |
| Eurenov S.A.S. | Chaumont, France | 2007[76][77] | Automotive component remanufacturing | Organized under Caterpillar Remanufacturing Services | |
| Forestry Division of Blount International, Inc. | Portland, Oregon, United States | 2007[76][78] | Blount International, Inc. | Timber harvesting and processing equipment, loaders and attachments | |
| Shandong Engineering Machinery (SEM) | China | 2008[79] | Wheel loaders | ||
| Lovat Inc. | Toronto, Ontario, Canada | 2008[80] | Tunnel boring machines | 2 April 2008: "This acquisition is Caterpillar's entry into the rapidly expanding tunnel boring machine business, and it represents an excellent strategic fit for our companies and the customers we serve around the world," – Stu Levenick, Caterpillar group president. 2 May 2013: "We continuously evaluate our strategic portfolio to ensure alignment with our long-term strategy and have concluded the tunneling business no longer fits that strategy," – Stu Levenick.Caterpillar Tunneling Canada Corporation (CTCC) have notified employees that it will exit the business and cease production at its facilities by mid-2014. | |
| Shin Caterpillar Mitsubishi Ltd. | Sagami & Akashi, Japan | 2008[80][81] | Mitsubishi Heavy Industries | Construction equipment | Joint venture since 1963, after purchase of majority renamed Caterpillar Japan Ltd. |
| MGE Equipamentos & Serviços Ferroviários | Diadema, São Paulo, Brazil | 2008[82][83] | Railroad equipment remanufacturing | Subsidiary of Progress Rail | |
| Gremada Industries, Inc. | West Fargo, North Dakota, United States | 2008[84][85] | Gremada Industries, Inc. | Remanufacturing transmissions, torque converters, and final drives | Organized under Caterpillar Remanufacturing Services |
| Twin City Signal Inc. | Hudson, Wisconsin, United States | 2008[86] | Signaling, traffic control | Division of Progress Rail | |
| JCS Co., Ltd. | Yangsan City, Kyungnam, South Korea | 2009[87][88] | Jinsung T.E.C. Co., Ltd. | Seal technology | |
| GE Inspection Products | Erie, Pennsylvania, United States | 2010[89] | GE Transportation | Rail inspection products | Division of Progress Rail |
| FCM Rail Ltd. | Fenton, Michigan, United States | 2010[90][91] | Rail maintenance equipment leasing | Division of Progress Rail | |
| Zeit Comercio e Montagem de Equipamentos Ltda | Curitiba, Parana, Brazil | 2010[92] | Automation and electrical equipment for locomotives and other industries | Acquired by MGE, a division of Progress Rail | |
| Electro-Motive Diesel | La Grange, Illinois, United States | 2010[93] | Greenbriar Equity Group LLC, Berkshire Partners LLC,et al. | Railroad locomotives and large diesel engines | Wholly owned subsidiary of Progress Rail |
| Underground Imaging Technologies, Inc. (UIT) | Latham, New York, United States | 2010[94] | Geophysical services, specializing in providing three-dimensional representations of underground utilities | Organized under Cat Advanced Systems Division | |
| Caterpillar Xuzhou Ltd | Xuzhou, China | 2010[95] | XCMG Group | Construction equipment | Joint venture since 1995, will become wholly owned subsidiary Caterpillar Xuzhou |
| CleanAIR Systems, Inc. | Santa Fe, New Mexico, United States | 2010[96] | Customized stationary aftertreatment solutions for internal combustion engines | Wholly owned subsidiary of Caterpillar Inc. organized under Customer Services Support Division | |
| MWM Holding GmbH | Mannheim, Germany | 2010[97][98] | 3i Group Plc | Gas and diesel powered generator sets | will become part of Caterpillar's Electric Power division (formerlyDeutz Power Systems division ofDeutz-Fahr) |
| Bucyrus International, Inc. | South Milwaukee, Wisconsin, United States | 2011[99][100] | Surface and underground mining equipment | Transaction closed without issuing new equity on July 8, 2011, in firm's largest acquisition ever, valued at $8.8 billion. | |
| Pyroban Group Ltd | Shoreham, UK | 2011[97][101] | Fire and explosion prevention solutions for engines and equipment | ||
| Berg Propulsion | Hönö, Gothenburg, Sweden | 2013[102] | Controllable-pitch propellers for the marine industry | ||
| Marble Robot, Inc. | San Francisco, California, USA | 2020[103] | Robotics, machinery for groceries, prescriptions, and package delivery | ||
| RPMGlobal Holdings | Brisbane, Australia | 2025[104] | Mining software solutions company | Deal was valued at $728 million. |
Caterpillar occasionally divests assets that do not align with its core competencies.
| Asset Divested | Location | Date | Purchaser | Products | Notes |
|---|---|---|---|---|---|
| Turbomach Division of Solar Turbines Incorporated | San Diego, California, United States | 1985[105] | Sunstrand Corporation | Auxiliary power units | Caterpillar's only aerospace asset, not a core competency, sold to longtime partner |
| Kato Engineering | Mankato, Minnesota, United States | 1999[106] | Emerson Electric Company | Large electrical generators | Asset swap. Caterpillar acquired F.G. Wilson from Emerson as part of transaction. |
| Agricultural equipment assets | DeKalb, Illinois, United States | 2002[107] | AGCO Corporation | Design, assembly and marketing ofChallenger track tractors | Although founded as an agricultural equipment manufacturer, Caterpillar exited the business with this sale. |
| Preferred Group of Mutual Funds | not applicable | 2006[108] | T. Rowe Price Group Inc. | Mutual funds | Caterpillar Investment Management Ltd. decided to exit the investment management business. |
| Pioneer Machinery | West Columbia, South Carolina, United States | 2007[109] | Consortium of six Caterpillar dealers | Distributor of forestry equipment | |
| ASV, Inc. | Grand Rapids, Minnesota, United States | 2008[110] | Terex Minnesota, Inc. | Rubber track machines | Caterpillar formerly held 23.5% of ASV outstanding shares before supporting the purchase by Terex |
| Caterpillar Logistics Services | Morton, IL, United States | 2012[111][112] | Platinum Equity, LLC | Logistics Services & Warehousing Solutions | Caterpillar retains a 35% equity stake. Business renamedNeovia Logistics Services LLC |
| Year | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 20.51 | 20.19 | 22.81 | 30.31 | 36.34 | 41.52 | 44.96 | 51.32 | 32.37 | 42.59 | 60.14 | 65.88 | 55.66 | 55.18 | 47.01 | 38.54 | 45.46 | 54.72 | 53.80 | 41.75 | 50.97 | 59.43 | 67.06 |
| Net Income | 0.805 | 0.798 | 1.099 | 2.035 | 2.854 | 3.537 | 3.541 | 3.557 | 0.895 | 2.700 | 4.928 | 5.397 | 6.556 | 2.452 | 2.512 | −0.067 | 0.743 | 6.147 | 6.093 | 2.998 | 6.489 | 6.705 | 10.34 |
| Total Assets | 30.49 | 32.71 | 36.71 | 43.10 | 47.07 | 51.45 | 56.13 | 67.78 | 60.04 | 64.02 | 81.22 | 88.83 | 84.76 | 84.50 | 78.34 | 74.70 | 76.96 | 78.51 | 78.45 | 78.32 | 82.79 | 81.94 | 87.48 |
| Employees (thousands) | 70.68 | 70.97 | 67.83 | 73.03 | 81.67 | 90.16 | 97.44 | 106.5 | 99.36 | 98.50 | 113.6 | 127.8 | 122.5 | 115.6 | 110.8 | 99.5 | 98.4 | 104.9 | 102.3 | 97.3 | 107.7 | 109.1 | 113.2 |
Through fiscal year 2010, Caterpillar divided its products, services, and technologies into three principal lines of business: machinery, engines, and financial products for sale to private and governmental entities.[3] As of 2022, Caterpillar reports its financials using four business segments: construction industries, resource industries, energy & transportation, and financial products.[120]
Caterpillar has a list of some 400 products for purchase through its dealer network. Caterpillar's line of machines range from tracked tractors tohydraulic excavators,backhoe loaders,motor graders, off-highway trucks,wheel loaders, agriculturaltractors, and locomotives. Caterpillar machinery is used in the construction,road-building, mining,forestry, energy, transportation, and material-handling industries.
Caterpillar is the world's largest manufacturer of wheel loaders. The small size wheel loaders (SWL) are designed and manufactured at facilities inClayton, North Carolina. The medium size (MWL) and large size (LWL) are designed at theirAurora, Illinois facility. Medium wheel loaders are manufactured at:Aurora, Illinois;Sagamihara, Kanagawa, Japan;Piracicaba, São Paulo, Brazil;[121]India; and thePeople's Republic of China. Large wheel loaders are manufactured exclusively in the United States on three separate assembly lines at Aurora, Illinois.
Caterpillar began selling a line of on-roadtrucks in 2011, theCat CT660, aClass 8 vocational truck.[122]As of March 2016, Caterpillar has ceased production of on-highway vocational trucks stating that “Remaining a viable competitor in this market would require significant additional investment to develop and launch a complete portfolio of trucks, and upon an updated review, we determined there was not a sufficient market opportunity to justify the investment,” said Ramin Younessi, vice president with responsibility for Caterpillar's Industrial Power Systems Division. “We have not yet started truck production in Victoria, and this decision allows us to exit this business before the transition occurs.”[123]
A portion of Caterpillar's business is in the manufacturing of diesel and natural gas engines andgas turbines which, in addition to their use in the company's own vehicles, are used as theprime movers inlocomotives,semi trucks, marine vessels, and ships, as well as providing the power source forpeak-load power plants andemergency generators.
Caterpillar 3116 engine was used up until 1997, when Caterpillar introduced the inline 6 cylinder 7.2 litreCaterpillar 3126 engine as its first electronic diesel engine for light trucks and buses.[124] Caterpillar decreased emissions and noise the next year in the 3126B version of the engine, and improved emissions further in 2002 with the 3126E which had an improved high-pressure oil pump and improved electronics.[124] In 2003 Caterpillar started selling a new version of this engine called theC-7 to meet increasedUnited States emission standards that came into effect in 2004; it had the same overall design as the 3126 version, but with improved fuel injectors and electronics which included its new Advanced Combustion Emissions Reduction Technology (ACERT) system.[124] In 2007, asultra-low-sulfur diesel became required in North America, Caterpillar updated the C7 to usecommon rail fuel injectors and improved ACERT electronics.[124][125]
In 1998 Caterpillar purchasedPerkins Engines of Peterborough, England, a maker of small diesel and gasoline engines. Perkins engines are used in various applications. Perkins engine products are dual branded with the Perkins nameplate for both loose and OEM engines, and the CAT nameplate for captive engines within Caterpillar products.
In June 2008, Caterpillar announced it would be exiting the on-highway diesel engine market in the United States before updated 2010U.S. Environmental Protection Agency (EPA)emission standards took effect,[126] as costly changes to the engines, which only constituted a small percentage of Caterpillar's total engine sales, would be likely.[127]
In October 2010, Caterpillar announced it would buy German engine-manufacturerMWM GmbH from3i for $810 million.[98]
The Caterpillar Defence Products[128] subsidiary, headquartered inShrewsbury, United Kingdom, provides diesel engines, automatic transmissions, and other parts for the UK'sTitanarmored bridge layer,Trojancombat engineering tank,Terriercombat engineering vehicles, andtank transporters; theRomanianMLI-84armored personnel carrier; and theSwissPiranha IIIlight armored vehicle, which is currently being developed for use by American light armored formations; large fleets of military trucks in both the U.S. and UK; and theCV90 family ofinfantry fighting vehicles used by the armies of Sweden, Norway, Finland, Switzerland, the Netherlands, and Denmark.
This division also provides both propulsion engines and power generation systems to the navalshipbuilding industry, such as the Series 3512B turbocharged V-12 diesel engine for AmericanVirginia-classnuclear submarines. Caterpillar diesel engines are also used inSan Antonio-classamphibious transport docks,SpanishÁlvaro de Bazán-classfrigates,BritishRiver-classoffshore patrol vessels,MexicanSierra-class patrol boats,[129] andMalaysianKedah-classMEKO A-100 offshore patrol vessels.[130] The poor network security of the Caterpillar engines put the United States' submarine force at risk forcyberattack.[131] In a 2015 interview on cybersecurity, the United States Navy clarified that Caterpillar actually has some of the most secure control systems. It will be used as a model of how the Navy will design cyber protections into its control systems.[132] The
TheIsrael Defense Forces' use of highly modifiedCaterpillar D9 bulldozers has led to Caterpillar being criticized by pro-Palestinian activists and some shareholders.[133][134] In particular, theIDF Caterpillar D9 was involved in an incident in 2003, in which the American activistRachel Corrie was killed by an Israeli soldier driving a bulldozer to demolish Gaza homes. A lawsuit against Caterpillar by her family and families of Palestinians, who were also killed by Caterpillar equipment, was unsuccessful.[135][136] A lawsuit againstIsrael andIsraeli Defense Ministry was rejected by an Israeli court, ruling that her death was an accident, caused by restricted field of view from the heavily armored operators' cabin.[137] In 2014Presbyterian Church (USA) sold its shares in Caterpillar citing the use of Caterpillar bulldozers involved indemolitions of Palestinian houses and Israeli surveillance activities in the West Bank.[138][139] In August 2024,San Francisco State University announced that, as part of a deal with student activists, it would divest from four companies that supply weapons for the Israeli army, among them Caterpillar.[140] On August 25, 2025, theNorwegian sovereign wealth fund announced that it was divesting from Caterpillar, selling its $2.4 billion worth of shares. It deplored "There is no doubt that Caterpillar's products are being used to commit extensive and systematic violations of international humanitarian law". The fund particularly criticized that the company had "not implemented any measures to prevent such use".[141]
The Caterpillar Electronics business unit has formed Caterpillar Trimble Control Technologies LLC (CTCT), a 50:50 joint venture withTrimble Inc. CTCT develops positioning and control products for earthmoving and paving machines in the construction and mining industries, using technologies such as GNSS, optical total stations, lasers, and sonics. The products are used in a range of applications where the operator of the machine benefits from having accurate horizontal and vertical guidance. CTCT is based inDayton, Ohio, and started its operations on April 1, 2002.
Caterpillar introduced theChallenger range of agriculturaltractors as the result of several development programs over a long period of time. The program started in the 1970s and involved both the D6-based units and the Grader power units. A parallel program was also developing wheeled high hp tractors based on using the articulated loading shovel chassis was later merged with the crawler team. The result was the Challenger Tractor and the "Mobi-Trac" system.
The Challenger has been marketed in Europe asClaas machines since 1997, with Caterpillar marketing the Claas-built Lexion combine range in the USA. Claas and Caterpillar formed a joint venture,Claas Omaha, to buildcombine harvesters in Omaha, Nebraska, USA under theCAT brand. In 2002, Cat sold its stake to Claas, and licensed the use ofCAT and the CAT yellow livery to Claas. They are marketed asLexion combines now.
Also in 2002, Caterpillar sold theChallenger tracked tractor business toAGCO and licensed the use of the Challenger and CAT names and livery to them. This ended Cat's venture into agriculture.
Caterpillar provides financing and insurance services to customers via Cat Financial and Caterpillar Insurance Services, both of which are subsidiaries of Caterpillar, Inc. Cat Financial provides retail and wholesale financing for Caterpillar products and services, in addition to other equipment provided or facilitated by the company. The company also generates income through the licensing of the Caterpillar and CAT trademarks and logos.[142][143]
Caterpillar sells the right to manufacture, market, and sell products bearing the Cat trademark to licensees worldwide.Wolverine World Wide is one example, a licensee since 1994 and currently the sole company licensed to produce Cat brandedfootwear.[144] Other licensees sell items including scale models of Cat products, clothing, hats, luggage, watches, flashlights, shovels, knives, fans, gloves, smartphones,[145] and other consumer products.[146][147]
Caterpillar products and components are manufactured in 110 facilities worldwide. 51 of the 110 plants are located in theUnited States and 59 of the 110 plants are located overseas inAustralia (until 2015),Belgium,Brazil,Canada,China,Czech Republic,England,France,Germany,Hungary,India,Indonesia,Italy,Japan,Mexico, theNetherlands,Northern Ireland,Poland,Russia,Singapore,South Africa, andSweden.
Caterpillar's historical manufacturing home is inPeoria, Illinois, which also has been the location of Caterpillar's world headquarters and core research and development activities. Although Caterpillar has contracted much of its local parts production and warehousing to third parties, Caterpillar still has four major plants in the Peoria area: theMapleton Foundry, where diesel engine blocks and other large parts are cast; theEast Peoria factory, which has assembled Caterpillar tractors for over 70 years; theMossville engine plant, built afterWorld War II; and theMorton parts facility.
Major facilities in Latin America:
Caterpillar products are distributed to end-users in nearly 200 countries through Caterpillar's worldwide network of 220 dealers. Caterpillar's dealers are independently owned and operated businesses with exclusive geographical territories. Dealers provide sales, maintenance and repair services, rental equipment, and parts[149] distribution.Finning, a dealer based inVancouver, Canada, is Caterpillar's largest global distributor.[150]Gmmco Ltd is India's No. 1 Dealer for Caterpillar Machines.[151] United Tractor & Equipment (Pvt) Limited also known as UTE is the sole authorized dealer of Caterpillar machines and heavy equipment in Sri Lanka.[152]
Most dealers use a management system calledDBS for their day-to-day operations.
As of the first quarter of 2006, 66% of Caterpillar's sales are made by one of the 63 dealers in the United States, with the remaining 34% sold by one of Caterpillar's 157 overseas dealers.[citation needed]
Caterpillar has acorporate governance structure where thechairman of the board also acts as chief executive officer (CEO). The board of directors is fully independent and is made up of non-employeedirectors selected from outside the company. Severalgroup presidents report to the CEO, and multiple vice presidents report to each group president.
The board has three committees: audit; compensation and human resources; governance and public policy.[153]
The behavior of all employees is governed by a code of worldwide business conduct, first published in 1974 and last amended in 2005, which sets the corporate standard for honesty and ethical behavior. Management employees are retested on this code annually.
As of October 2023[update], the board of directors was composed as follows:[154]
On January 1, 2017,Jim Umpleby succeededDouglas R. Oberhelman as CEO and Dave Calhoun became non-executive chairman.[156] On December 12, 2018, Umpleby was named chairman of the board as well, reversing Caterpillar's previous decision to split the CEO and chairman position.[157] After eight years as CEO and nearly 45 years of service, Chairman and CEO D. James Umpleby III will become Executive Chairman of the Board effective May 1. Chief Operating Officer (COO) Joseph E. Creed, a 28-year Caterpillar veteran, will succeed him as CEO and join the Board of Directors May 1.[158]
As of December 31, 2009, Caterpillar employed 93,813 persons of whom 50,562 are located outside the United States. Current employment figures represent a decline of 17,900 employees compared the third quarter of 2008.[7] Due to the restructuring of business operations which began in the 1990s, there are 20,000 fewerunion jobs in the Peoria, Illinois area while employment outside the U.S. has increased.[citation needed]
In 2020, it was reported that Caterpillar was planning to cut 700 jobs at its Northern Ireland operations.[159]
Caterpillar came close to bankruptcy in the early 1980s, at one point losing almost US$1 million per day due to a sharp downturn in product demand as competition with Japanese rivalKomatsu increased. (At the time, Komatsu used the internal slogan "encircle Caterpillar".)[160] Caterpillar suffered further when the United States declared anembargo against theSoviet Union after the Soviet invasion ofAfghanistan, causing the company to be unable to sell US$400 million worth of pipelaying machinery that had already been built.[161]
Due to the drastic drop in demand[162], Caterpillar initiated employeelayoffs, which led to strikes, primarily by the members of theUnited Auto Workers, against Caterpillar facilities inIllinois andPennsylvania. Several news reports at the time indicated that products were piling up so high in facilities that replacement workers could barely make their way to their work stations.
In 1992, theUnited Auto Workers conducted a five-month strike against Caterpillar. In response, Caterpillar threatened to replace Caterpillar's entire unionized work force. Over ten thousand UAW members struck again in 1994–1995 for 17 months, a record at that time. The strike ended with the UAW deciding to return to work without a contract despite record revenues and profits by Caterpillar.[163] In 1994, Caterpillar offered a contract to the UAW members that would have raised the salary of top workers from $35,000 to $39,000 per year. However, the UAW was seeking the same top wage of $40,000 that was paid to workers atJohn Deere & Company in 1994.[164]
During the strikes, Caterpillar used management employees in an attempt to maintain production. It suspendedresearch and development work, sending thousands of engineers and other non-bargained for employees into their manufacturing and assembly facilities to replace striking or locked out union members.
Rather than continuing to fight the United Auto Workers, Caterpillar chose to make itself less vulnerable to the traditional bargaining tactics of organized labor. One way was by outsourcing much of their parts production and warehouse work to outside firms. In another move, according to UAW officials and industry analysts, Caterpillar began to execute a "southern strategy".[165] This involved opening new, smaller plants, termed "focus facilities", inright-to-work states. Caterpillar opened these new facilities inClayton andSanford, North Carolina;Fountain Inn, South Carolina;Corinth, Mississippi;Dyersburg, Tennessee;Griffin andLaGrange, Georgia;Seguin, Texas; andNorth Little Rock, Arkansas.
In 2012, the company locked out workers at a locomotive plant inLondon, Ontario, Canada and demanded some accept up to a 50% cut in pay, in order to become cost-competitive with comparable Caterpillar manufacturing facilities in the United States.[166] The move created controversy in Canada, with some complaining the plant was acquired under false pretenses.[167] Retail storeMark's Work Wearhouse began pulling Caterpillar boots from its shelves as a result.[168]
On May 1, 2012, 780 members of the International Association of Machinists and Aerospace Workers Local Lodge 851 went on strike. An agreement was reached in August, resulting in a 6-year wage freeze. Striking workers expressed anger about the freeze given the company's record 2011 profits and CEO Oberhelman's 60% salary increase.[169]
In June 2020, it was reported that a Caterpillar clothing wholesaler, Summit Resource International, participates in a Chinese government-run labor transfer scheme that usesforced labor ofUyghurs ininternment camps.[170]
Caterpillar divisions have won Illinois Governor's Pollution Prevention Awards every year since 1997.[172] Caterpillar was awarded the 2007 Illinois Governor's Pollution Prevention Award for three projects: The Hydraulics and Hydraulic Systems business unit in Joliet implemented a flame sprayed coating for its truck suspension system, replacing a chroming process, reducing hazardous waste by 700,000 pounds (320,000 kg) annually, and saving 14 million US gallons (53,000 m3) of water. Caterpillar's Cast Metals Organization in Mapleton worked with the American Foundry Society to help produce a rule to reduce hazardous waste in scrap metal that meet strict quality requirements, and also allow foundries to continue recycling certain types of scrap and maintain a competitive cost structure. Caterpillar's Mossville Engine Center formed a team to look at used oil reuse and recycle processes that forced MEC to send large amounts of used oil off-site for recycling, and developed an updated system for reclaiming it for reuse on-site. The resulting benefits included a usage reduction of about 208,000 US gallons (790 m3) of oil per year.[173]
In 2004 Caterpillar participated in initiatives such as theUnited States Environmental Protection Agency's National Clean Diesel Campaign program, which encourages retrofitting fleets of older buses and trucks with newer diesel engines that meet higher emissions standards.[174][175]
In 2005, Caterpillar donated $12 million toThe Nature Conservancy in a joint effort to protect and preserve river systems in Brazil, U.S.A., and China.[176]
Caterpillar has, for many years, been a member of theWorld Business Council for Sustainable Development based inGeneva, Switzerland[177] and has been listed on theDow Jones Sustainability World Index each year since 2001.[178]
In July 1999, Caterpillar and five otherdiesel engine manufacturers signed aconsent decree with theJustice Department and theState of California, after governmental investigations revealed violations of theClean Air Act. The violation involves over a million diesel engines sold withdefeat devices, devices that regulated emissions during pre-sale tests, but that could be disabled in favor of better performance during subsequent highway driving. Consequently, these engines "...emit up to triple the permissible level of smog-formingnitrogen oxides (NOx). In 1998 alone, these violating vehicles emitted 1,300,000 short tons (1,161,000 long tons; 1,179,000 t) of additional NOx – an amount equal to the emissions of 65 million cars." For this reason, Caterpillar was named the "Clean Air Villain of the Month" for August 2000 by theClean Air Trust.[179] The consent decree provided that $83 million be paid in civil penalties and determined new deadlines for meeting emissions standards. Caterpillar, however, was successful in lobbying for an extension of deadlines they considered too severe. Even so, in October 2002, Caterpillar – the only diesel engine company (of those that signed decrees) to fail to meet the new emissions standards deadline – was forced to pay $128 million in per-engine non-conformance penalties.[180]
Caterpillar reported TotalCO2e emissions (Direct + Indirect) for the twelve months ending 31 December 2020 at 1,521 Kt (-310 /-16.9% y-o-y).[181] Caterpillar plans to reduce emissions 30% by 2030 from a 2018 base year.[182]
| Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 |
|---|---|---|---|
| 2,154[183] | 2,249[184] | 1,831[185] | 1,521[181] |
In March 2017, when US federal agents raided Caterpillar's headquarters in Peoria Ill., it was already evident that the company engaged in aggressive measures to control tax costs. Since April 2014, the company's tax policies have been investigated by a senate subcommittee headed by SenatorCarl Levin. Those investigations uncovered significant changes in Caterpillar's offshore tax strategy, culminating in the creation of the new Swiss subsidiary Caterpillar SARL (CSARL) inGeneva. In 1999, former Caterpillar executive Daniel Schlicksup accused the company of funneling profits made on replacement parts into Switzerland, even though it had no warehouses or factories there. The Internal Revenue Service found the firm liable for a billion dollars of unpaid taxes for the years 2007 to 2009.[186]
At the same time, the architect of Caterpillar's fiscal strategy,PricewaterhouseCoopers (PWC), came under scrutiny because of PWC's conflict of interest in acting as Caterpillar's controller as well as being its global tax consultant.[187] The Senate uncovered documents from PWC saying the elaborate move was simply a way to evade American taxes. "We are going to have to do some dancing" one said. Another noted, "What the heck, we will all be retired when this comes up on audit."[186]
In January 2023, Caterpillar reached a settlement with theInternal Revenue Service and was not ordered to pay any penalties.[188]
The sale of Caterpillar bulldozers to the Israeli military, and specifically theIDF Caterpillar D9, for use in theoccupied Palestinian territories has long drawn criticism from human rights groups, society groups and responsible investment monitors.[189][190]
Amnesty International released a report in May 2004 on home demolition in Gaza and the west bank that noted the risk of complicity for Caterpillar in human rights violations.[191] The Office of theUN High Commissioner on Human Rights also sent a warning letter to the company the next month about its sales of bulldozers to theIsrael Defense Forces and their use to destroy Palestinian farms.[189][192]Human Rights Watch reported the same year on the systematic use of D9 bulldozers in illegal demolitions throughout the occupied territories and called on Caterpillar to suspend its sales to Israel, citing the company's own code of conduct.[193]
The pro-Palestinian groupJewish Voice for Peace and four Roman Catholic orders of nuns planned to introduce a resolution at a Caterpillar shareholder meeting subsequent to the human rights reports asking for an investigation into whether Israel's use of the company's bulldozer todestroy Palestinian homes conformed with the company's code of business conduct. In response, the pro-Israel advocacy groupStandWithUs urged its members to buy Caterpillar stock and to write letters of support to the company.[194]
The US investment indexerMSCI removed Caterpillar from three of its indices for socially responsible investments in 2012, citing the Israeli military's use of its bulldozers in the Palestinian territories.[190][195] In 2017, documents emerged that showed Caterpillar had hiredprivate investigators to spy on the family ofRachel Corrie, the American human rights activist who was killed by a D9 bulldozer inRafah in early 2003.[196] In 2022, Stop the Wall called Caterpillar, alongsideHyundai Heavy Industries,JCB andVolvo Group.In August 2025, theGovernment Pension Fund of Norway pulled out of Caterpillar over what it says is its involvement in Israeli human rights abuses in Gaza and the occupied West Bank.[197]
Caterpillar Inc. has sought the revocations ofregistered trademarks in the United States incorporating the word "Cat" in markets unrelated to its machinery business, such as "Cat & Cloud" (a cafe inSanta Cruz, California), andKeyboard Cat. The company has faced criticism for this perceived "bullying", especially in cases where the likelihood of confusion is low.[198][199][200]
In 2014, Caterpillar paid $46M to settle claims that one of its engines caused a fiery explosion on a ship owned by Bender Shipbuilding and Repair Company Inc.[201] In 2016 Caterpillar paid $60M to settle claims that its bus engines were prone to breakdowns and fires.[202][203]
Caterpillar is a member of theU.S. Global Leadership Coalition. A Washington D.C.–based coalition of over 400 major companies and NGOs that advocates for increased funding of American diplomatic and development efforts abroad through the International Affairs Budget.[204] Economic development projects in developing countries (particularly in rural, agricultural regions) serve as new markets for Caterpillar products by improving political and economic stability and raising average incomes.2011 recipient of theHenry C. Turner Prize for Innovation in Construction Technology from theNational Building Museum.
In 2025, Caterpillar was one of the donors who funded the White House'sEast Wing demolition, and planned building of a ballroom.[205]
William K. Holt founded the company in 1933. He was the son of Benjamin Holt, "who in 1904 developed the first successful track-type tractor which he named the 'Caterpillar,'" according to the company website. Holt Manufacturing Co. merged with a competitor in 1925 to form what is now Caterpillar Inc., the global manufacturer of construction and mining equipment that reported $51 billion in sales and revenue last year.
We deliver products, services and technologies in three principal lines of business: Machinery, Engines and Financial Products.
As of December 31, 2009, we employed 93,813 persons of whom 50,562 were located outside the United States.
Rank: 44
Caterpillar ranked 73rd on the Fortune 500 for 2022.
Ticker CAT – Company Name Caterpillar Incorporated
In 1925 Holt and C.W. Best's company merged to form the Caterpillar Tractor Company.
"Caterpillar Yellow,"...trade dress...are trademarks of Caterpillar...
{{cite web}}: CS1 maint: multiple names: authors list (link)Sundstrand Corp. plans to buy the Turbomach unit of Caterpillar Tractor Co. for $100 million in cash plus royalties based on future sales...
Currently, we have five operating segments, of which four are reportable segments and are described below: Construction Industries, Resource Industries, Energy & Transportation, Financial Products
The Kedah Class MEKO A-100 patrol vessel being built for Malaysia has a displacement of 1,650t. The propulsion system is based on two Caterpillar 3616 (5,450kW) diesel engines each driving two controllable pitch propellers.
The U.S. government paid for the bulldozers, which were transferred to the Israel Defense Forces.
Cat Financial is a wholly owned finance subsidiary of Caterpillar Inc. and it provides retail and wholesale financing to customers and dealers around the world for Caterpillar products, as well as financing for vehicles, power generation facilities and marine vessels that, in most cases, incorporate Caterpillar products. Retail financing is primarily comprised of installment sale contracts and other equipment-related loans, working capital loans, finance leases and operating leases. Wholesale financing to Caterpillar dealers consists primarily of inventory and rental fleet financing. A significant portion of Cat Financial's activity is conducted in North America, with additional offices and subsidiaries in Latin America, Asia/Pacific, Europe, Africa and the Middle East.
Agents primarily representing one or more insurance carriers, or brokers not representing any particular carriers primarily engaged as independent contractors in the sale or placement of insurance contracts with carriers, but not employees of the insurance carriers they represent. This industry also includes independent organizations concerned with insurance services.
I have been acquainted with Wolverine World Wide since 1994, when the company was licensed to manufacture and market Caterpillar footwear around the world...
In the late 90s, Caterpillar Inc. issued its first watch license, welcome to CATWATCHES.CO.UK
shopcaterpillar.com is operated by SureSource LLC., under license from Caterpillar Inc.
Locating plants in non-union states such as North Carolina is part of Caterpillar's effort to decrease the impact of organized labor on production, according to union officials and analysts.
{{cite book}}: CS1 maint: location (link)Caterpillar Inc. said Thursday it reached a settlement with the Internal Revenue Service that resolves a yearslong tax dispute without any penalties. The construction equipment maker said in a regulatory filing that the settlement included the resolution of the disputed tax treatment of profits earned from 2007 to 2016 by a subsidiary in Switzerland, called Caterpillar SARL, from sales of replacement parts.
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